Aspire Private Capital LLC Trims Position in Elevance Health, Inc. (NYSE:ELV)

Aspire Private Capital LLC lessened its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 95.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58 shares of the company’s stock after selling 1,292 shares during the quarter. Aspire Private Capital LLC’s holdings in Elevance Health were worth $28,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 3rd quarter worth $25,000. ORG Partners LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth $40,000. Orion Capital Management LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth $46,000. Milestone Investment Advisors LLC acquired a new stake in shares of Elevance Health during the 3rd quarter worth $51,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 4th quarter worth $56,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ELV shares. Jefferies Financial Group upped their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday. Truist Financial reiterated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday. Wells Fargo & Company raised their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada increased their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $587.64.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

Shares of NYSE ELV traded up $5.61 during mid-day trading on Tuesday, reaching $537.83. 176,843 shares of the company traded hands, compared to its average volume of 1,057,899. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $125.00 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. The stock has a fifty day simple moving average of $509.68 and a 200-day simple moving average of $484.51.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $9.46 earnings per share. Equities research analysts anticipate that Elevance Health, Inc. will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

About Elevance Health

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.